Marshall Wace - MW Eureka

Fund A2 EUR

Fund Investment Objectives

The firm's flagship strategy, Eureka, brings together two distinct and complementary approaches to long/short equity management. First, fundamental investing grounded in stock specific research, and second, MW TOPS (Trade Optimized Portfolio System), a pioneering alpha-capture investment process, which seeks to identify and extract alpha from the ideas of sell-side brokers, specialists, economists and strategists. Over the fourteen-year life of Eureka, Marshall Wace has sought continually to enhance the quality and diversification of the return streams utilised by the strategy. The Fund includes an expanding number of fundamental long/short portfolios, which have typically exhibited strong alpha generation and low cross-correlation. The addition of MW TOPS strategies, which operate in Europe, Asia and the Americas, represent a further differentiated source of alpha. A proportion of Eureka's capital (typically 10-20%) is managed directly by Paul Marshall. This allows for the tactical adjustment of net market exposure, within strategically defined limits, and the greater sizing of high-conviction single stock positions. Eureka dynamically allocates capital between these sub-components to maximize the forward-looking expected Information Ratio within its target return and risk profile. The gross market exposure typically ranges from 150% to 300% and net market exposure from -20% to +60%. AUM is not provided.